an infant formula phoenix, page-12

Quite a modest and understated update from John Penno I reckon considering the recent announcement of a 400% increase in nutritionals production and with improved gross margins. It’s a matter of management style I suppose, keeping it real.

It’s encouraging too I think that SML have also doubled lactoferrin production, albeit at a lower price point than during the 2015 commodity price peak, still, net lactoferrin earnings should be up also.